With the largest population in the Middle East, a relatively developed life insurance industry and a government determined to pursue ambitious infrastructure development, Egypt is a promising market for both domestic and foreign insurers. In 2016 premiums collected by the sector grew by more than 12% over the previous year, and an ongoing...
As Egypt enters 2018, a newly liberalised currency and the recent implementation of a much-anticipated investment framework have left it well positioned for continued economic expansion: the IMF expects the country’s GDP growth to reach 6% over the medium term. However, a structural fiscal deficit, high unemployment levels and socio-economic...
The introduction of capital gains tax on equities has been one of the more challenging areas of Egypt’s wide-ranging tax reforms. Introduced in July 2014 and implemented in March of the following year, the 10% levy was subsequently postponed for two years as a result of objections from traders and brokers – a decision which lead to criticism...
Financial inclusion has become a more prominent component of government strategy over recent years, as authorities work to meet the demands for social justice which have arisen from Egypt’s recent political transition. Elsewhere on the continent, microfinance regulation has also played a large role in raising financial inclusion across...
OUTLINE: In November 2016 the executive board of the IMF approved a three-year, $12bn loan under an Extended Fund Facility (EFF) aimed at boosting the economy. According to a September 2017 IMF staff report on the aims of the development programme, the loan instalments are contingent on the...
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